CrowdStrike (NASDAQ:CRWD) Downgraded to “Hold” at HSBC

HSBC lowered shares of CrowdStrike (NASDAQ:CRWD) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat reports. They currently have $302.00 target price on the stock, down from their previous target price of $388.00.

CRWD has been the topic of several other research reports. Mizuho dropped their target price on CrowdStrike from $390.00 to $370.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Rosenblatt Securities boosted their target price on CrowdStrike from $415.00 to $420.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. Piper Sandler dropped their target price on CrowdStrike from $400.00 to $310.00 and set a neutral rating on the stock in a research report on Monday. Canaccord Genuity Group reiterated a buy rating and set a $405.00 target price on shares of CrowdStrike in a research report on Monday. Finally, Wedbush dropped their target price on CrowdStrike from $390.00 to $385.00 and set an outperform rating on the stock in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike presently has an average rating of Moderate Buy and an average target price of $359.16.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $254.15 on Tuesday. The stock has a market capitalization of $61.85 billion, a PE ratio of 479.54, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10. CrowdStrike has a 52-week low of $140.52 and a 52-week high of $398.33. The stock’s 50-day moving average price is $355.96 and its 200 day moving average price is $326.03. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. As a group, equities research analysts forecast that CrowdStrike will post 0.9 EPS for the current year.

Insider Activity at CrowdStrike

In related news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now directly owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now directly owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurtz sold 56,279 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the sale, the chief executive officer now owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The disclosure for this sale can be found here. In the last three months, insiders sold 219,675 shares of company stock worth $76,931,522. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of CrowdStrike by 2.0% during the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after acquiring an additional 315,280 shares in the last quarter. Jennison Associates LLC grew its stake in shares of CrowdStrike by 33.2% during the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after acquiring an additional 1,581,796 shares in the last quarter. Norges Bank acquired a new stake in shares of CrowdStrike during the fourth quarter valued at about $683,336,000. First Trust Advisors LP grew its stake in shares of CrowdStrike by 19.3% during the fourth quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock valued at $565,461,000 after acquiring an additional 358,945 shares in the last quarter. Finally, Pathstone Holdings LLC acquired a new stake in shares of CrowdStrike during the fourth quarter valued at about $450,418,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Company Profile

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.